https://www.taxtmi.com/caselaws?id=408083 The Tribunal affirmed the CIT(A)'s decision to allow exemption under sections 11 and 12 of the Income Tax Act, 1961, and the claim of depreciation on fixed assets. The Revenue's appeal challenging the exemptions and depreciation was dismissed, with the Tribunal citing consistent decisions and a High Court judgment in favor of the assessee. The Tribunal found no new binding precedent presented by the Revenue, leading to the rejection of all grounds raised by the Revenue and upholding the CIT(A)'s decision in its entirety. en-us Thu, 27 May 2021 00:00:00 +0530 Sat, 29 May 2021 11:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=408083 The Tribunal affirmed the CIT(A)'s decision to allow exemption under sections 11 and 12 of the Income Tax Act, 1961, and the claim of depreciation on fixed assets. The Revenue's appeal challenging the exemptions and depreciation was dismissed, with the Tribunal citing consistent decisions and a High Court judgment in favor of the assessee. The Tribunal found no new binding precedent presented by the Revenue, leading to the rejection of all grounds raised by the Revenue and upholding the CIT(A)'s decision in its entirety. Case-Laws Income Tax Thu, 27 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=408083